Updates, advisories and surprises

(8:30 PM ET) LOS ANGELES (MarketWatch) -- Japanese stocks opened solidly lower, as expected after an overnight sell-off on U.S. markets, though some names such as Sony Corp.(JP:6758)
SNE, +0.35%
and Panasonic Corp.(JP:6752)
PCRFF, -3.06%
managed to escape the downdraft on the strength of their earnings. The Nikkei Stock Average(JP:NIK)sat 0.7% lower in early Friday trade, with the Topix down 0.8% after the S&P 500 fell 2% in New York due to Argentina's sovereign default and other issues. Still, some of the losses in Tokyo were due to disappointing earnings, with Kyocera Corp.(JP:6971)
KYOCF, -4.09%
down 3.2%, Toshiba Corp.(JP:6502)
TOSYY, +0.69%
off 1.6%, and Hitachi Ltd.(JP:6501)
HTHIF, -2.95%
down 1.2% as its revenue edged up 3%, even as its net profit more than doubled from a year earlier. Likewise, Mitsui O.S.K. Lines Ltd.(JP:9104)
MSLOF, -31.94%
fell 2.1% after the shipper downwardly revised its first-half earnings outlook. But some shares rallied off their earnings, with Sony up 4.6% -- having opened more than 6% higher -- as it reported a surprise April-June profit despite weakness in its phone unit. Likewise, shares of Panasonic added 2.1% as the company's operating profit rose almost 30% (though net profit fell due to a one-time gain in the year-earlier period) and as it confirmed its plans to build a giant battery factory for Tesla Motors Inc.
TSLA, -0.24%
In other earnings-driven moves, Alps Electric Co.(JP:6770)
APELF, -13.70%
rose 2.4%, while Mazda Motor Corp.(JP:7261)
MZDAF, +0.88%
got a 0.7% bump higher.

Expedia earnings rise 52% on strong growth in bookings

(4:17 PM ET) SAN FRANCISCO (MarketWatch) -- Expedia Inc.
EXPE, -3.29%
on Thursday reported a second-quarter profit of $137.6 million, or $1.03 a share, on $1.49 billion in revenue, compared to earnings of $90.5 million, or 64 cents a share, on sales of $1.21 billion in the same period a year ago. Analysts surveyed by FactSet had forecast the online travel agency to earn 76 cents a share on $1.44 billion in sales. Expedia said gross bookings during the quarter ended June 30 rose 28% to $13.05 billion.

Yelp, 3D Systems lead broad slate of tech losses

(9:59 AM ET) SAN FRANCISCO (MarketWatch) -- Tech stocks fell in tandem with the broad market Thursday as concerns grew about U.S. economic policy and Argentina possibly going into default. Online local-information company Yelp Inc.
YELP, -4.58%
fell 7.5% to $69.91 after the company reported slower-than-expected growth in business accounts. 3D Systems Corp.
DDD, -5.19%
was another big decliner, falling more than 11% to $50 a share after reporting disappointing second-quarter results. The Nasdaq Composite Index
COMP, -3.03%
fell 40 points to 4,419 and the Philadelphia Semiconductor Index
COMP, -3.03%
was off by 1.3%.

Kellogg shares slump as it lowers outlook

(8:13 AM ET) NEW YORK (MarketWatch) -- Kellogg Co. shares
K, -0.06%
slumped 1% in premarket trade, after the company reported a decline in profit and revenue for the second quarter and lowered its full-year outlook. Kellogg said it earned $295 million, or 82 cents a share, in the quarter, down 15% from the year-earlier period, mostly due to the costs of an efficiency program and lower sales. Excluding special items, per-share earnings came to $1.02, matching the FactSet consensus. Sales fell 0.8% to $3.7 billion, compared with a FactSet consensus of $3.705 billion. "While we saw growth in various areas of our business including Pringles and the international segments, the cereal category in developed markets remained challenging," Chief Executive John Bryant said in a statement. Kellogg is now expecting sales to decline 1% to 2% for the full year. Per-share earnings are expected to range from $3.91 to $3.99 a share, compared with a FactSet consensus of $3.99.

McKesson adjusted profit, sales rise above expectations

(7:42 AM ET) NEW YORK (MarketWatch) -- McKesson
MCK, +1.86%
reported Thursday a fiscal first-quarter profit from continuing operations of $425 million, or $1.78 a share, down from $428 million, or $1.84 a share in the same period a year ago. Excluding non-recurring items, adjusted earnings rose 18% from last year to $2.49 a share, exceeding the average analyst estimate compiled by FactSet of $2.34 a share. Sales for the quarter ending June 30 increased 37% to $44.1 billion, above analyst forecasts of $40.95 billion. The healthcare services company raised its full-year fiscal 2015 adjusted earnings outlook to $10.50 to $10.90 a share, surrounding analyst projections of $10.65 a share. The stock, which has gained 18% year to date, was still inactive in premarket trade Thursday.

DirecTV profit, revenue top estimates, boosted by World Cup

(7:40 AM ET) NEW YORK (MarketWatch) -- DirectTV
DTV, -1.22%
said it earned $806 million, or $1.59 a share, in the second quarter, up from $660 million, or $1.18 a share, in the year-earlier period, boosted by its coverage of the FIFA World Cup in Brazil. Revenue came to $8.1 billion, up from $7.7 billion a year ago. The FactSet consensus was for per-share earnings of $1.54 and revenue of $8.01 billion. Revenue was boosted by strong average revenue per user growth at DirecTV U.S. and strong subscriber growth at DirecTV Latin America, Chief Executive Mike White said in a statement. Shares were not yet active in premarket trade.

ConocoPhillips profit rises, tops expectations

(7:15 AM ET) NEW YORK (MarketWatch) -- ConocoPhillips
COP, +0.48%
reported Thursday second-quarter profit of $2.08 billion, or $1.67 a share, up slightly from $2.05 billion, or $1.65 a share, in the same period a year ago. Excluding non-recurring items, earnings were $1.61 a share, up from last year's $1.41 a share, and above the average analyst estimate compiled by FactSet of $1.60 a share. Production from continuing operations increased by 95 million barrels oil equivalent per day, excluding Libya, to 1,556 MBOED. The oil company said it expects to meet its volume and margin growth targets of 3% to 5% in 2014. "Operational and financial performance was very strong in the second quarter," said Chief Executive Ryan Lance. "All of this positions us for strong momentum as we exit the year." The stock, which has gained 20% year to date, was still inactive in premarket trade Thursday.

Colgate-Palmolive meets profit, sales estimates

(7:09 AM ET) NEW YORK (MarketWatch) -- Colgate-Palmolive Co.
CL, -0.74%
said it earned $622 million, or 67 cents a share, in the second quarter, up from $561 million, or 60 cents a share, in the year-ago period. Adjusted per-share earnings came to 73 cents a share, in line with the FactSet consensus. Sales were unchanged at $4.352 billion, in line with the FactSet consensus of $4.4 billion. "All operating divisions contributed to the 4.0% organic sales growth, led by the emerging markets where organic sales grew 6.5%," Chief Executive Ian Cook said in a statement. The company is expecting another year of strong organic sales growth and gross margin expansion, with per-share earnings expected to grow 4% to 5% on a dollar basis, he said. Shares were not yet active in pre-market trade.

Time Warner Cable earnings climb 12%; beats views

(6:18 AM ET) LONDON (MarketWatch) -- Time Warner Cable Inc.
TWC, -1.59%
said on Thursday second-quarter profit rose to $499 million, or $1.76 a share, from $481 million, or $1.64 a share, in the year-ago period. Adjusted per-share earnings climbed 11.8% to $1.89 from $1.69 in the same quarter last year. Revenue picked up 3.2% to $5.73 billion from $5.55 billion. Analysts surveyed by FactSet expected adjusted earnings of $1.86 a share on revenue of $5.74 billion. "We delivered the best second-quarter subscriber volumes in years," said Chairman and CEO Rob Marcus in the earnings release.

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